The government needs to back off. They did there job, and got paid for it.
Fed Makes Record $45B Profit in 2009 49 minutes ago - Marketnewsvideo.com
Related Companies Symbol Last %Chg BAC 16.57 -2.13% GS 169.25 -1.35% MS 31.46 -1.81%
As of 11:03 AM ET 1/12/10 The Federal Reserve reportedly made a record $45 billion in profits in 2009.
The Washington Post reported that the strongest earnings in the Fed's 96 years of operations were due to the banks emergency activities to support the economy.
Its previous record was $34 billion, in 2007.
The Fed made money on aggressive bond buying and emergency loans, and will return the profits to treasury.
The Post noted that the Fed's earnings far exceed expectations for Wall Street giants Goldman Sachs (GS), Bank of America (BAC), JP Morgan (JPM), and Morgan Stanley (MS) combined!
The Fed will report official results later on Tuesday.
The Post noted that the Fed's earnings far exceed expectations for Wall Street giants Goldman Sachs (GS), Bank of America (BAC), JP Morgan (JPM), and Morgan Stanley (MS) combined!